InterGen stake sale won't impact profit going ahead: GMR

GMR Infrastructure has witnessed a quarterly loss (consolidated) of Rs 1,007 crore in Q4 FY11 mainly due to stake sale in its British energy firm InterGen. However, group CFO A Subba Rao doesn't see it impacting the company going forward since this is a one-time loss.

Talking about the company's airport business, he said though the core airport business margins were good, that of Delhi International Airport (DAIL) were under pressure due to terminal 3 (T3) coming on stream.

The company incurred an additional cost on the construction of the T3 terminal at Delhi. It also reported an increase in interest charges and  depreciation mainly due to capitalization of T3 in Q3FY11.

He said, "The Delhi Airport has gone through a kind of problem last year.The costs on account of the T3 operation have just got indebted into the P&L account. The correspondent revenues have not come into the P&L account because we are going through the revenue revision process. Till that point of time there would be pressure in Delhi airport on the margins. But it's a transitional issue."

The GMR Group operates mainly in three verticals